Marvol Parts. Incorporated, manufactures auto accessories. One of the companys products is a set of seat corers that can be adjusted to fit nearly ary smail car, The company has a standard cost system in use for all of its products. According to the standards that have boen set for the seat covers, the factory should work 1,075 hours each month to produce 2,150 sets of covers. The staridard coots assoclated with this level of production are: During August, the factory worked only 800 direct labor-hours and produced 2,500 sets of covers. The following actual costs were recorded during the month: At standard, each set of covers should require 3.0 yards of material. All of the materials purchased during the month were tised in prociction. Required: 1. Compute the materials price and quantity variances for August. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficlency variances for August. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) At standard, each set of covers should require 3.0 yards of material. All of the materials purchased during the month were used in production. Required: Compute the materials price and quantity variances for August. Compute the labor rate and efficiency variances for August. Compute the variable overhead rate and efficlency variances for August. Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for untavorable, nd "None" for no effect (i.e., zero variance). Input all amounts as positive values.)